Real Estate Securities - Schedule of Fair Value of AFS Securities by Type (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Debt Securities, Available-for-sale [Line Items]
Total Fair Value	$ 287,557	$ 211,474
Senior
Debt Securities, Available-for-sale [Line Items]
Total Fair Value	0	39,365
Mezzanine
Debt Securities, Available-for-sale [Line Items]
Total Fair Value	0	31,867
Subordinate
Debt Securities, Available-for-sale [Line Items]
Total Fair Value	287,557	140,242
Other third-party securities
Debt Securities, Available-for-sale [Line Items]
Total Fair Value	185,737	108,504
Other third-party securities | Senior
Debt Securities, Available-for-sale [Line Items]
Total Fair Value	0	39,365
Other third-party securities | Mezzanine
Debt Securities, Available-for-sale [Line Items]
Total Fair Value	0	28,948
Other third-party securities | Subordinate
Debt Securities, Available-for-sale [Line Items]
Total Fair Value	185,737	40,191
Multifamily securities
Debt Securities, Available-for-sale [Line Items]
Total Fair Value		11,749
Multifamily securities | Senior
Debt Securities, Available-for-sale [Line Items]
Total Fair Value		0
Multifamily securities | Mezzanine
Debt Securities, Available-for-sale [Line Items]
Total Fair Value		2,919
Multifamily securities | Subordinate
Debt Securities, Available-for-sale [Line Items]
Total Fair Value		8,830
Sequoia securities
Debt Securities, Available-for-sale [Line Items]
Total Fair Value	101,820	91,221
Sequoia securities | Senior
Debt Securities, Available-for-sale [Line Items]
Total Fair Value	0	0
Sequoia securities | Mezzanine
Debt Securities, Available-for-sale [Line Items]
Total Fair Value	0	0
Sequoia securities | Subordinate
Debt Securities, Available-for-sale [Line Items]
Total Fair Value	$ 101,820	$ 91,221